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Lodging properties saw the biggest declines in both CMBS delineuncy and CMBS special servicing in April 2022

Oak View Group Plans $3B Entertainment District South of Vegas Strip 

Oak View Group (OVG) plans a 2023 groundbreaking for a $3-billion entertainment district in Las Vegas, including an arena. The firm has acquired 25 acres near the intersection of two major freeways, I-15 and I-215. 

The district will feature an 850,000-square-foot arena, a casino, a hotel, and an additional entertainment venue amphitheater. The arena will host live events including concerts, sporting events and family entertainment, as well as conventions and awards shows, 

“South of the Las Vegas Strip represents one of the few areas of potential future growth of the gaming and entertainment corridor,” said Tim Leiweke, CEO of OVG. “This unprecedented project is an industry game-changer, and we will usher in the evolution of Las Vegas as the new entertainment and sports capital of the world.” 

Marc Badain, former president of the Las Vegas Raiders, has partnered with OVG to spearhead and consult on the new project. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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